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This policy applies to students receiving federal, state, and institutional financial aid, including loans,
scholarships and grants.
First, your account will be credited according to the University’s refund policy (on or prior to the 38-day
withdrawal period).
Then, your financial aid will be reduced in direct proportion to the length of time you remained enrolled, up to
60 percent of the semester. If you have a disbursed student loan that must be prorated, you may owe loan funds to
the school immediately.
Please note: If you withdraw, you could owe money to the University and/or the federal government.
If there is still a credit on your account, the amount of the credit will then be applied to the remaining
financial aid funds until the credit has been reduced to zero.
Any remaining refund due to you, after all funding sources have received the appropriate credit, will be paid
directly to you within 30 days of your withdrawal.
For example: If there are 105 days in the semester and you withdraw on the 58th day, your federal aid would be
reduced to 55% (58/105). If your cost to attend was $2,200 and it was paid with federal aid of $1200 and a personal
payment of $1000, your federal aid would be reduced to $660. You would owe the University $540.
If you withdraw during the 100% refund period, you may be eligible to retain a portion of your federal aid. A
special withdrawal form is required and is available at the Financial Aid Office.
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